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MII{ISTRY OF LAW AND JUSTICE

(Legislative Department)

Neu,Delhi, the 12th January, 20l9lPausln 22, 1L)40 (Sahu)

THE COMran*ipS (AMENDMENT) ORDINAN CE,20lg

No. 3 or 2019

Promulgated by the President ^jnthe Sixty-ninth Year of the

Republic of [ndia.

Crdinance further to amend the Conipanies Act, 2frI3.

Wsennns thr Companies {Amendment} Ordinance, 2018

was promulgated by the President on the znd day of November,

2CI8;

AI'{DWHEREAS the Companies (Arnendment) Bill,20}9 ta

replaee the Carnpanies {Amendment} Ordinance, 2018 has

been p**scd by the House of People on the 4rh day of January,

2019 and is pending in tlre Cauncil of Stat*s;

AND WHEEEAS the Cornpanies {Amendment} Bitl, 20}9

could not be taken up for ccnsideration and passing in the

Councilof States;

RdqjrE ttqq-d, ft-{is 3 r ^cr;r.rft20 l 9

AN*D\YHERI.AS tire Companies ^(Am*ndnrent]Ordinance,

Zft 1 I llill ceas* t(-l operate cft [he 2 l " day cf January.2019;

ANi:WHearas it is considered necessary ta ^give

cofttiniled effe*t to the provisions of tire Comparies

{Anrendment} ^Ordinanoe,^2fi¹^8;

Allp\Y*ea.rag Parliament is not in session and the

Presid*nt is satisfied that circumstances exist ^*'hiehrender it

ne*essal'y lor hir* to take irnn:ediate action;

Now, THxnrron-r, in exercise of the pCIw*rs c*nferred by

clause ili of article i23 of the Constitution, the Preside*t is

pleased to promulgate the following Ordinancel-

I. tli This Ordinance may be ealled the Companies

{Am*ndrnent} ^Ordinance,²⁰^I^9"

{?} ^tt^shall^{be deemed to have}^come^ints^force^{an the}^?nd

day of November, 2018.

2. In secli*n 2 of the Companies A*t. 2S13 ilrerei*atler

refer-red ta as tlte prineipat Act), in clause (4I ),-

{*} ^for^the^{first provisc,}^the^following^pr*visos^{sha}l bs}

s*bstituted, namely:-

"Pravidsd that ^where^a^compafiy^sr^body

e*rporate, r.vhiph is a holding cCIrnpany or a subtidiary

or assaciate c.ompany of a scmpany incarporaled

outside India and is required to f*llow a dif&rent

financial year for consolidation of its accou*ts outsids

India, the Cenrral Government m&y, on an application

made by that c*mpany or body eorparate in such form

and rn*nner ar rnay be prescribed, altow any ^period^as

its fir:anrisl year, whether or not that ^periodis a ^year:

Provided further that any appli*ation ^periding

befcre the Tribunal ^as^on^the^dateof ^{commencsmeflt}

of the Cornpanies (Amendrnent) Ordinance, ^2019,

shall be disposed of by the Tribunat in ^aceordaace

with the pravisions applicable t* it bef*re ^such

commencsrne.nt.";

Short title ard

ccu}menc€mErL

Amer.ldment

section 1.

, ^ftni6^3l^{uri-dft 20t9}

zr ^(l)

Insertion of new

seetion 10A.

Conrmeneement

ofbusiness, etc.

{i:} ⁱⁿ^thr:^sec.ond^prsyiso.^far^the^{rvords "Frovided}

further that", the ^q,ords"Provided also that" shall be

sHbstrtilted.

3. Al1er section 10 of the prinripai Act, the fallcwing

$ectiCI* shall b* inserted, namely:-

"ltA.il) A company ^ine*rp*ratedafter ^the

contffiencement of ths C*mpanies {An'r*ndment)

Ordinanc*, 20lg and lraving a share capital shall not

c*mmefics any business or exercise any barrcwing pawers

urrless*

{a} ^a^d*claration^is^filed^by^a^director^within^a

peri*d of one hundred and eighty days *f th* date of

incorporation of the compa$y in such form and

v*rified in such mannsr a$ may b* prescribed" with the

Registrar tirat every subscriber to the fiieffiorandum

has paid the value of the shares agreed to be taken by

hirn on the dats of making of such deelaration; a*d

{bi ^the^{coffipany has}^filed^witli^the^Registrar^a

vsrification af its registered offlrca as prrvided in sub-

sectian ^p)of section 12.

{2} ^lf^{any defuult}^is^madeⁱⁿ^comp}ying^with^th*

requir*meRts of this seetion, the cornpany shall be iiable to a

penalty of fi&y thousand rupees and every officer rvha is in

default shall be liable to a peralty af one tlrousand rupees for

each day during which such default c+ntinues but not

exceeding an arnount ofone lakh rupees.

{3} ^Where^no^deelaration^has^treen^filed^with^the

Registrar under clause {a} of sub-sectian {1) ivithin a periad of

sne hundred and sighty days of the date cf incorporation of

theeompany and the Registrar has rea*+nable caus* t+ b*iieve

that tl"r* company is not carr;ying on eny business or

i:prralions, he may, without prejudiee to the provisions of

sub*sectirn {2), initiate action fbr the removel of the name of

the company from the register of companies under Chapter

XVIII"

4. I* section l2 of the principal Act, after sub-section ^(8),

the follawing sub*section shall be inse*ed, namely:*

Arnendrnent

sertion 12.

78 ⁽²⁾

Bdqrrqttq,Td, ftqis ³¹^{.rrn-dft 2019}

"{9) ft'the R*gistrar has reas*:rable eaus* ta believe

ti:al the cc,mpany is not carrying on afly business cr

*perations. ire may cause a physical veriflcati*n of the

r"*gistered olfice of the coffipany in such manner as may be

pr*scribed and if arry default is fuur:d to be n'rade in

e*rnplying rvith tlte requireroents of sub-srction {lJ, h*

may rl'ithcr"rt prejudice to the provisiops of sub-section (8),

initiate action for the removal cf the name of the coil'ipany

*or:r the rcgisfer erf compa*ies under Chapter XVIIl.".

5. in section l4 of the principal Act,:-*

(i) in sub-section (l), for: the second provis+, the

follawing provisos shall be substituted, nanrely:*_

*'Provided further that any alteration having the

effect of conversion of a public compa*y int* a private

esmpeny shall not be valid unless it is appr*r,ed by an

srder of the Central Covernrnfint on an appli*ation

made i* such frrm and manner as may be prescribed:

Pr*vided also that any applicati*n pcnding before

the Tribunal, as on the date of c*mrnencement sf the

Companies {Arnendmer:t} Ordinance, 2*19, shail be

disposed of by the Tribunal in aceordance with the

proviricns applirable to it before such

*offmencsment.";

iii) ⁱⁿ^sub*section{2), ^f*r^the^w*rd^"Tribunal",^{he

words "Central Gcvernment" shall be substituted.

6. In section 53 of the princip*l Act, for sub-section (3).

the following sub-sectian shall be substituted, namely:-

"{3) ^Where^any^csmpany^fails^tc^ccmply^with^the

provisions of this secticn, such c*mp*ny and every officer

who is in default shall be liable ta * penalty which rnay

exte*d to an anrount eqr"ral te the amount raised through

the irsue of slrares at s dise*un1 or five lakh rupess,

whichever is less, and the csrnpally shali a[s+ be liable to

r*fund all monies rsceived with interest at the rats of

twelve per csnt. per annum frorn fhe date of issue of such

shares to the persons ta whom such $harss havs been

i$sued.".

7. In sec.tion 64 of the principal Act, f*r sub-section {?),

Amendment

section 14.

An'rendment of

seciicr 53"

Ame*dment *f

s*€rrq {qqq, ftqis ³^I^q-rdfi^{20 I 9}

78 ⁽³⁾

rectitrrr 64.

Anterdnrent

sectirrn 77"

the firllorving s*b-section shall be s*hstituted. nameiy:-

"{2} llhere any cs}xpany laiis to camply wirh the

provisi*fis cf sub-secticn (il, such ccmpan.y and ev*ry

officer rvho is in default shall be liable to a penaity of c*e

thousand rupees f,or each day during which such default

eontinues, or five lakir rupees v/hichrver is less.",

8. I:r se*tian 77 of the principalAct, in sub-se*.tien {1}, far

the first a-*d second provisos, the following provisos shali be

substitut*d! ilameiy:*

"Fravided that ttre Regislrar may, on an aFplication by

the company, allow such ragistration t* be rnad**

{a} ⁱⁿ^$ase^of^{charges created}befere ^the

comfi',encement of the Companies (Arnendment)

Ordi**nce, 2019, within a period of thrse h*ndred

days afsueh creation; or

(b) in case of charges created on o. afi.er th*

eomffierrcement of the Carnpanies (Am*r:dment)

Ordinancs, 2019, rvithin a periad of sixty days af such

er*ation,

cn payxent of such additional fees as nray be prescribed:

Pravided further that if the registration is nrt made

rvlthin the period specified-

{a} ⁱⁿ^clause{a} ^to^the^first^proviscn^the^registrati*n

af the charge shall be made within six manths frilm

the date of commencement of the Companies

(Am*:rdrnent) Ordinance, 2019, en payment of such

additional ftes as may be prescribed and different fees

may be prescribed for differen-t rlasses of compaai+s;

{b} ⁱⁿ^clause{b} ^to^the^first^proviso,^the-Registrar

r*ay, on an appticationo allow such registration to be

rnade within a firrther period of sixty days a{ter

payment of such advalorem fees s$ may be

prescribed.".

. $ecti*n S6 of the principal Act shall be numbered as

sub*se*tion {li thereof and atter sub-sectio* (li as s*

fiumbersd, the foliowing sub-section shall he inserted,

namely:-

Amendrnent

se$ion 86"

78 ⁽⁴⁾

Br*€rrdttqq{, frqis 3 I sffiff 2or e

'(:] ll' an1, pel:sol1 rvil{!}l,v lurnishes any ialse or

incorrect int'ormation *r krro*'i*g11, suppresses any

malerial informatinn, required tc be registered in

accordance lvith the provisions of s*cti*n 77, he shali be

Iiable for action rinder sec.tion 447 -".

IS. For section 87 of the principal Act, the following

section shall be substituted, namel,v-: -

-'87. The Central Government an being satisfied that -

{a} ^{the omission}^{to give}^ir:rtimationt* the Registrar

*f the payment or salisfaction of a charg*, within the

time required under this Chapter; or

{b} ^the^omission^6r^{n:isstatement}of ^any

particulars, in any {i}ing prcviously made to the

Registrar rvith respect tc any charge or modification

thereof or i,vith respe*t t* any mernorandum af

satisfaction ar oth*r entry made in pursnance of

section 82 cr secti*n 83,

was accidental or clue t* inadverfencc rr some other

suificient sause or it is not of a *ature {o prnjudic* the

positimr of creditors or sllarehelders of the company, it

Irlay, sn the application of the compa*y or frny person

interested and on such terms and conditions as it deems

just and expedient, direct that the tirne for the giving of

intimation of payment or satisrbction shall be extended or,

a$ the *a$e may require, that the *mission or misstatement

shall b* rectified.".

lI ln section 90 of the principal Act**-

(1) for sulr-section {9}, the t'ollcwing sub-section shall

be substituted, narnely:-

"{9} The c(}mpany or the persoil aggrieved by the

order of tt:e Tribunal may make an application to the

Trlbunal fur relaxation or lifting af the restrictions

placed under sub-sectian {8}, within a period of one

year from the date of su*h order:

Substituti*n oi

new s*ctisn fcr

section n7"

Recti{ication by

Central

Covemment in

charges.

Arnendmenr of

Eectiorl 90.

BdFrrE {rqq-*, friis 3 I v-.rdff 20 I e

78 ^(s)

Amendrnenl

section 92"

Proviried that if no such applicalion has bs*n flled

within a period of one y-ear fiom the date cf the *rrJer

under sub*sectian (8), such shares shall b*

lransferred,without any restri*li*ns, to the auth*r'ity

constituted under sub-section (5) of seetion 1?5. i*

such manner as ma)' he prescribed;

{ii) ⁱⁿ^sub*scction{.10),*

{ai ^after^tl,e^rriord^{"punishab}e*',}^the^word$^'*with

imprisonment for a term n'hich may extend t* o** year

or" shall be inserted;

{b) ^{after the}^rvords^"ten^lakh^{rupees", the wcrds}^"or

with both" shall tre inserted;

12.ln section 92 of the principal Act, for sub-section {5),

the fallowing sub*section shall be substituted, narnely;-

"(5) lf any sorlpany fails to file its aRnual returfi u::der

sub*section {4i, before the expiry of the period specified

ther*in* sucl'l cornpany and its every offic.er who is in

default shall be liable to a penalty cf fifty thousand ruFees

and in case rf eontinuing failure, witl, a further penelty of

ene hilndrcd rupees for each day during which such ftilure

co*tinues, subject ta a maximum *f five lakh rupees.".

13. In section 102 of the principal Act, for sub-section {5},

the Ibllowing sub-section shall be substituted, namely:--

"(5) Without prejudice to the provisiens cf sub-section

{4}" ^if^any^default^is^madeⁱⁿ^comp}ying^with^the

provisions of this sectioni every Frornotsr, director,

m8nager sr other key managerial personnel of the

corilpeny who is in default shall b* Iiable to a pe*alty of

fi*y thousand rupees or {ive times the am*unt of benefit

accruing to the promoter, direetor, rnanager or ether key

managerial personnel or any of his relatives, whichever is

higher.'u,

14. In section 105 of the principal Act, in sub-sectisn {3},

for the words "punishable with fine rvhich may extend to five

tho*sa*d rupees", the wards "liable t* a penaliy af five

thausand rupe&s" shall be substituted.

Amendment

section I02.

Amendmenl

section 105.

78 ⁽⁶⁾

6ffiqqd ttqwd, ftnis ³¹^sq{ff^{20 I 9}

tr5. ln seciioti 117 af the prineipsl Act, f*r suh-scction {2}. ^AmenrJment^of

the ftrllarving sub-sectir-:n sh*ll be substituted, namely:.*-

section 1 i7'

'-[?] IF any cr]fi:pany fuils tn file the res*lution er lhe

agreement undcr sub-section {l) before tl're expiry of the

period specified iherein, such eompany shall b* Iiable tr': *

p*alty ol *n* lakh rupees and in case of continuing

failure, rvith a further penalty of five hundred rupees fcr

each day ai'ter the first during which xuch failur*

csntinues, subj*et ta a maximum cf twenty-five lakh

ruFees and every officer of the company who is in default

including Iiquidator of the cCImpany, if any, shnll l:e Iiable

t* a pen*lty r:f li*y thousand rupees *nd in case ol

continuing failure, witft a funher penalty of Iiv* h*ndred

rilp*es for sacl': da5, x11*t the flrst during which s*ch

failure co*tinues, subject to a maximurn sf fiv* lakh

rupe*s.".

16. In section t?l af the pri:rcipal Act, fhr sr:b*sectian (3), ^Amendmentof

the follorving sub-section si':ail be sutrstituted, namely:*

secticn 121'

"{3i If the *cmpany faiis to file the r*pafi under sub*

seetion (2) before the expiry of the period sperified

therein. such company shall be liable to a penclty of ane

lakJr rupees and in case of continuing f,ailure, with a

further penalty of five hundred rupees for each day after

the first during which such failure eontinues, sr"rb-ject to a

ffi d-fx.*,ni$**'#ffilF,l,:;;*rtr*

and in case af e*ntinuing failure, with a further penalty +f

five hundred rupees f*r each day after the first during

which such failurr csntinues, subject to a.ffiaximum of one

lakh rupee$.".

.Amendmrntof 17. ln section 137 af the principal Act, in sub-secti*n

seqtian 137" (31,*

(ai for the w*rds "punishable with fine", the w*rds

"liable t* a pe*alty" shall bs substituted;

(b) f*r the p**ion beginning with ^-'puuishablewith

imprisonmeilt'*, and ending with "five lakh rupees *r ^with

both'', the w*rds '3halI be liable to a penalty af ane ]*kh

rupees and i* case of continuing failure, with a fu*her

effierrd ttqq-d, frqid 3 r wrdfi 20 I 9

7s ⁽⁷¹

Anrendment *f

secticn I 40"

Arriendnrent *{

se(jtisn 157.

penalty ol clne hundr*d rupees for each day after the first

during rvhich such failure continues, subject to *

maximu*"r of five lak-h rupees" shalI be substituted.

1S, ln section 140 of the principal Act, for sub-secticn (3),

tire foilorving sub*secticn slrall be substituted, namely:**

"{3} If the auditor does not conrply ri,ith the provisio*s

of sub-seetion (?i, he ar it shall be liable ro a p*nalry *f

fifty tl'r*usand rupees or an arnount equal ta the

remuneratio:i ot'the auditor, whichever is less, and in case

of c*ntinuing failure. rvith a further penalty *f live

hundred rilpees for each day after the first during which

such failure continues, subject to a maximurn of five lakh

rupees.".

19. In s*ction 157 of the principal A$, f*r sxb*section (Z),

the fullowing sutr-seetion shall be substituted, namely:-

*{?) If any cornpany fails to furnish the Dire*tor

Identification Number under sub-section (l ), such

cornpany shall be liable to a penalty ol tu,enty*fiv*

thousand rupess and in case of cCIntinuifig frilure, with a

fl*her penalty of one hr.lndred rupees for ea*h day *fter

the first during which suclr fhilure continues, subject to a

maxirnum of one lakl rupe*$, and every afflcer af th*

cCIrnpany who is in default shall be liable ta * pe*alty of

not less than twenty*five thousand rupees and. in case of

eontinili*g failure, with a further penalty of one huadred

rupess for each day a&er the first during whi*h su*h

failure continues, subject to a maximum of one lakh

rupees-""

20. Far section 159 of the principal Aet, the follcwing

sectien shall be substituted, flamely:-

*'}59. lf any individual or director of a company m*kes

any default in complying rvith any of the provisions of

sectian I52, section 155 and section 156, s*eh individual

or director af the eompany shall be liable tc a penalty

which may *xtend to fifty thausand rupees and where the

default is a continuing one, with a further penalty which

may extend to five hundred rupees for each day *fter the

first during which such default continues.".

Substitution

rew sectisn

section 159,

Penally

default

eertain

provision*.

f*r

f,or

78 ⁽⁸⁾

Bdsqq {q'rd, ftnis 3 I wrdff 20 I 9

2I. in seciiorr I64 r:f the princip*l Act, in sub*seeti*n 1I).

after clause {hi, the firll*rving clause shall be insertrd,

nan:ely:*

"{i} he has not complied rvith the provisions cf sub-

secti*n {'1i *f section 165.".

22. ln secticn I65 of the principal Act, in sub-secticn {*i,

for the partian beginning with "punishable with fin*" *nd

ending *,ith "ccntraventicrn cofltinues", the lvards "liable to a

penalt3, *f fiv* lhousand rupses for each day aller the first

during which s*ch cantravention contiRues" shall be

substituted.

23- In secticn I91 of the principal Act, f*r sub-seetion {5},

the following s*b*se*tion shall be suhstituted, namely:*

"i5) Ifla dircctcr *f the coffipany rnakes any defaulr i*

complying with the provisions of this sectiorl) such

directar shali be Iiahte to a penalty of one lakh rupees."'"

24. tn secti*n I97 ofthe prinuipal Act,*

{a} ^{sub-s*ction (7) shall}^be^omitted;

ti:) ^for^sub-section{15i, ^the^following^sub-section^shall

be substituied, narnely:*

"{15} tf any per$on makes sny defhult in

e*rnplying witlr ti':* provisions of this section, lre sh*ll

ba li*ble to a penalty st'ons lakh rupees *Rd wher* aay

def"ault has been made by a oompany" the campeny

shall be liable to a penalty of five lakh rupees.".

?5. In sectis$ 203 of the principal Act, for sub-section (5),

the foll+wir:g s*b-sectisn shall be substituted, nemely:-

"{5} lf any oc}ntpeny makes any def,ault in complying

rvith the pravisions of this section, such carnpany shall be

Iiable to a penelty of five lakh rupees a*d every direetor

and key managerial personnel of the cCImFany who is in

defa*it shall be liable to a psnalty of fifty thousar:d rilpees

and where the default is a continuing cne, l*rith a iu*?rer

penalty afone thousand rupe€s for each day after the first

during r"vhich sueh default ^ccntinuesbut net *xcaeding

fivs lakh r*pees"""

Amendment of

section 164.

Amendment

section 165.

Amendment

section 191.

Amendment

section I97"

Amendment of

section 303.

uffiqrra ttsTtr{, f<ais 3 I ^qq-dff20 I 9

78 ^(e)

Anrendrnent of

7S. ln section 238 of the principal Act. in sub-sectio* i3).

section 2J8" lar the rvorris "'pr-rnishal:le with fine u,hish shali nct be kss

than tweiliy*five thousand rupees but which may exfend to fiv*

Iakh rupees", the words "liable to apenalty of crne laktr rupees"

shall be substituted.

Anlendment

section 348.

2 Ef 1974.

?7. l* section 248 of th* principal AcI. ir sub-section

(t),-

(a) in clause {c), f'or the word and I'tgures "ssction

455,", the rvords and figures "section 455; or" shal] be

substituted;

{b) ^after^clause^(c)^{and hefore}^the^}ong^li*e,^the

lollowing clauses shall be inserted, narnely:*

"{d} the subssribers to the memcrandi*m have not

paid the subscription which they had undertak+n to pay

at the time of in*orporatiofi sf a florfipany and a

declaratlon to this effect has not been filed within *r:e

hundred and eighty days of its incorporetion under

sub-section {l} of section l0A; or

{e} ^the^compaay^is^not^carying^on^*ny^busi:'less^or

operations, as revealed after the physical verification

carried out under sub*section (9) of section 12.*.

?8. ln sectian 441 af the principal Act,--

(a) in sub-section (1), in clause {b), for the werds

"does not cxceed five lakh rupees", the words "dses not

exceed twenty-five lakh rupees" shall be substituted;

(b) for sub*se*tion (6), the fbllowing sub-sectio* shall

be substituted, nam.ely:*

"{6) Notwithstanding ariythi*g ^qontainedin the

Cade of Criminal Procedure, ,973, any offeRce which

is punishable under this Act with imprisonment only or

with irnprisonment and alsa with fine shall not be

uompoundablc"".

29. in sectioil 4468 of the ^principalAct, fbr ths ^pertion

beginning rvith "punishable with fine" and ending ^with

"specified in such sections", the wcrds "liable ta a ^psnalty

which shall not be more than one half of ^the^penaltyslecifi*d

in such section$" shall be substituted.

Arnendment

section 441.

Affiendment of

srciion446ff.

78 ⁽¹⁰⁾

Bdsrrd rrs[d, ftqis 3 I ^qqtrff2or 9

3t1. In secii<.:;i 447 o{ the principal Aet, in the second

prcviso, ir:r the *.ords ^o'lweniylakh rupees", the 'uvords "fifty

Iakh rupees" shall b* substituted.

31. ln section 454 of the prineipal Act. --

{i} ^for^sub-seetion^(3j.^fhs^f*ilowing^{sub-section shall}

he substituted, nan:ely: ^**

"{i} The adjudicating afficer may, Lry an crder-

{ai ^impose^{the penalty}^on^the^c*mpany,^the

*ff].rcr who is in defuult, or any other psrson, es

tlie case mey bc, stating tl"lerein aily nsn*

complian*e ar default under the relevant provisions

r:f this Acr; and

{b} ^direct^such^c*mpany,^or^{of{icer who}^isⁱⁿ

drfault, or any other person, as the case ffiay lie, tc

rectily the default, wherever he considers fit.";

{ii) ⁱⁿ^sub-section^{(a). for the}^rvords^{o'such company}

and the officer who is in default", the u,ords "such

company, the ofiicer who is in default or any other

person" shali be substituted;

(iiii in sub-secti*a {8),*

{a} ⁱⁿ^clause^(i),^{for the}^urords^"does^not^pay^the

penalty impased by fhe adjudicating officer or the

Regional Dir*ctor", the words, braekets a*d figures

"fails to c*nrply with the order made under sub-section

{3} ^ar^{suh-s+etio* (?),}^as^the^sase^may^bs,"^shall^be

sr.rbstituted;

{b} ⁱⁿ^cla*ss{ii)*

{i} ^fcr^the^words^o'Where^an^officer^cf^a

fisrcpatly", t}.re w$rds ^o'Wherean afficer cf a

ooffipaily sr any *ther person" shall be substltuted;

{i1} ^{for the}^words^*odoe$^not^{pay the}^pen*lty",

fhe words, brackets and figures 'tfuils to comply

with the order made under sub-section i3) or sub-

s*ctis* (?), as the sa$s ffay b*," shall ^be

substituted,

Aarendn:ent ol

secticrn 447.

Amendn'rent af

sectian 454-

Bdsrc{rsq-d, fr?is 3r sffiff 2ot e

78 ^(il)

Insertion r:f

n&w sestion

4544.

Penalty fsr

repeated default.

&epeal and

Savings-

3I. After seeticil 454 *f the principal Act, the follawing

seetion sl'iall be inserted, *amely:-

"4544. Where a cornpany or an officer of a company

or any otlrer person having already been subject*d to

penalty for default under any provisions of this Act, again

commits such default rvithin a period of three years from

the date of rrder irnposing such penalty passed by the

adjudicatir:g officer or the Regional Direetor, as thc ease

may be, it or he shall be liable for the secand or

subsequent defaults for aa amount equal to twice the

amcunt cf penalty provided for such defauit under the

relevant provisi*ns of this Act.".

33. {U The Ccmpanies (Amendment} Ordinance, 2018 is ^ord.9^of^2018'

hereby repealed.

(2) Nctwithstaading such repeal, anything done or any

action taken under &e said Ordinance shall be deerned to have

been done or taket und*r the ccmesponding provisions of this

Ordinar:ee-

RAM ^}..IAT},I^KOVIND'

12resident'

PR. ^C.NARAYANA ^RAJU'

.S#crel*tu t* ^tke^GoYl"^af^l*di*'

{qm*, gim ^aelrt€n ^Frcrj,^E-SqtlE^anr^rnvsu^{gaunau, erra}^rm'^vq$^I5Ea^am^rtrftra^-^{zo I}^I